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CBS 3Q profit grows, matches Wall St. expectations

November 6, 2013 • Business


FILE – In this May 4, 2009 file photo, a CBS camera operator videotapes Illinois State Treasurer Alexi Giannoulias speaking at a news conference in Chicago. CBS Corp. reports quarterly earnings on Wednesday, Nov. 6, 2013. (AP Photo/M. Spencer Green, File)

LOS ANGELES (AP) — Broadcaster CBS Corp. grew earnings 26 percent in the third quarter, benefiting from higher ad revenue, sales of reruns of shows like “NCIS: Los Angeles” and pay-per-view boxing.

The company denied that a dispute with Time Warner Cable, which resulted in a programming blackout for millions in August, hurt results in the quarter. But an analyst said that the standoff hurt local broadcasting profit.

“They would have been up if they did not have the Time Warner Cable dispute,” said Vijay Jayant, an analyst with Login to read more

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